Home›Insurance›Industry & Deals›CatIQ raises Ontario and Quebec thunderstorm insured l…

CatIQ raises Ontario and Quebec thunderstorm insured loss to C$491m

CatIQ said the increase to C$491 million was driven mainly by higher residential line losses as claims continued to be filed.

Reported · Written up by our desk · Industry & Deals

CatIQ, Canada’s insured loss and exposure index provider, has lifted its insurance industry loss estimate for a severe thunderstorm that affected parts of southern Ontario and southern Quebec between June 30 and July 3, 2026, to CAD 491 million.

The updated figure represents a 12% increase from CatIQ’s prior second industry loss estimate of CAD 439 million, after an earlier estimate put losses at CAD 374 million.

CatIQ said growth primarily came through residential lines as claims continued, with losses covering property and vehicle claims, including additional loss adjustment expenses.

CatIQ also confirmed it will publish an updated loss estimate for the same event on January 5, 2027.

More like this

Sources